China to return to Iran's oil market

TEHRAN, Aug. 12 (MNA) – Following the removal of sanctions on Iran's oil export by American government, Asia's largest oil refiner called for more Iran oil import.

After the American Government directive over removal of sanctions on Iran oil was issued, largest Asian refiner expressed interest in importing Iran oil.

Expressing desire for more cooperation in field of energy, Sinopec, Asia's largest oil refiner announced that Iran has stored 30 to 40 million barrels in its tankers which are ready to be exported.

Noting that Iran's oil production capacity will rise to 308-309 million barrels per day in post-sanction era, Iran's Oil Minister Bijan Zanganeh said by removal of sanctions Iran's crude oil production and export will rise by 500 barrels per day just in a week. 

Rise in exchange and export of crude oil and gas condensate, participation in Iran's new oil and gas projects and the development of research cooperation are among main provisions of Iran's new oil agreement with china.


News Code 109195


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